SAN DIEGO, Calif. – Mitchell International has announced record business performance results for 2008. The company said it grew revenue by more than 15 percent on a year-over-year basis and is on pace to achieve similar growth in 2009 — with sales expected to exceed $250 million. Moreover, the company said it made substantial gains in new customer additions, adding more than 2,500 new collision repair shops to its network in 2008.
“We are proud of our strong performance in 2008 — especially given the challenges presented by the economy,” said Alex Sun, president and CEO, Mitchell International. “The fact that Mitchell achieved balanced growth across its key business lines was especially encouraging.”
Mitchell’s physical damage business benefited from a number of product lines — WorkCenter Total Loss, WorkCenter Dispatch and ABS/Enterprise — which each more than doubled revenue year over year, and AutocheX grew by 20 percent. On the Casualty side, Mitchell claims to have continued its history of success of high double-digit growth with adoption of its third party (ClaimIQ) and payment solutions.
Sun added, “As our business results demonstrate, Mitchell was, and is, firing on all cylinders—with even more powerful momentum and results expected in 2009.”
In 2008 Mitchell also maintained an ambitious pace of investment in product development to fulfill its vision of elevating the level of collaboration between insurance carriers and collision repairers and introducing innovations for claims automation and performance.
